The Hindu Review Daily Gk Update : 3rd April 2019
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♦ RBI to again go for $5-billion dollar-rupee swap auction on April 23
- The Reserve Bank of India (RBI) will again swap up to $5 billion to infuse durable liquidity in the system, a month after the first swaps saw a massive response from banks.
- Market participants offered up to $16.31 billion against the notified amount of $5 billion in the auction held on March 26. The next auction for three-year tenure will be held on April 23, the RBI said in a notification on its website on Monday. The markets were closed being the first day of the financial year.
- In the swaps, the auctions are done to determine the forward premiums. While the RBI wants to have as high a premium it can, market participants try to maximise discount over the prevailing market rates for forwards.
♦ India and Chile exchange three MoUs for cooperation
- India and Chile signed three MoUs in the fields of mining, culture and empowerment of persons with disabilities; Chile announces it will allow visa-free entry to Indians holding valid US Visa. President Ram Nath Kovid participates in India-Chile Business Forum and interacts with young scientists at University of Chile.
- President Ram Nath Kovind has concluded the his visit to Chile, the last leg of her three nation visit to Bolivia, Croatia and Chile.
- He will be reaching New Delhi on Thursday after a transit visit to South Africa.
- Earlier on Monday, the President discussed wide ranging issues of mutual interest with his Chilean counterpart Sebastian Pinera as the two sides signed three MoUs in the fields of mining, culture and disability.
- India offered training slots to Chilean armed forces in the premier defence institutions including for courses in mountain warfare and peacekeeping.
- The two countries also agreed to explore opportunities for other cooperation in the defence sector.
- The President welcomed Chile’s decision to allow visa-free entry to Indian nationals holding a valid US visa, saying the step would promote both cultural and business ties between the two countries.
♦ Vinod Dasari replaces Siddharth Lal as CEO of Royal Enfield
- Vinod K Dasari has joined Royal Enfield, the noted motorcycle maker, as chief executive officer (CEO).
- Enfield is part of Eicher Motors and Dasari also joins the latter’s board of directors as an executive director.
- Dasari takes over from Siddhartha Lal as Enfield’s CEO. Lal will continue as managing director (MD) of Eicher Motors.
♦ Bank of Maharashtra gets Rs 205 crore capital from govt
- State-owned Bank of Maharashtra Monday said the government has infused Rs 205 crore into the bank in lieu of preferential allotment of shares.
- The capital infusion was done on March 30, 2019.
- The issue committee of the bank in its meeting held on March 30, 2019 issued and allotted 15,47,16,981 equity shares of the bank for cash at an issue price of Rs 13.25 per share aggregating to Rs 205 crore on preferential basis to the government, Bank of Maharasthra said in a regulatory filing.
♦ Tata Power, Indraprastha Gas ink pact for rooftop solar projects
- Tata Power Tuesday said it has signed a pact with Indraprastha Gas Limited (IGL) for setting up rooftop solar projects in the country.
- While Tata Power is India’s largest integrated power utility, IGL is country’s largest CNG distribution company.
- “The pact signed between Tata Power and IGL is for green energy solutions including rooftop solar projects, various integrated services including setting up of commercial scale EV charging/battery swapping stations,” Tata Power said in a statement.
- The Memorandum of Understanding (MoU) was signed Tuesday in presence of IGL Managing Director E S Ranganathan, Tata Power CEO and Managing Director Praveer Sinha, GAILNSE 2.23 % Chairman and Managing Director B C Tripathi, and other senior officials of both the companies, it said.
♦ India’s factory growth hits six-month low in March on weak demand: PMI data
- Growth in India’s manufacturing industry slowed to a six-month low in March as orders and output expanded at a weaker rate, but overall factory activity ran at a solid pace in the first quarter, a private survey showed on Tuesday.
- The Nikkei Manufacturing Purchasing Managers’ Index, compiled by HIS Markit, fell to a six-month low of 52.6 in March from February’s 54.3, below a Reuters poll forecast of 53.9 but above the 50-mark separating growth from contraction for the 20th straight month.
- Underscoring that long stretch of growth in the sector, factory activity in the first three months of 2019 increased at its quickest quarterly average rate in more than six years.
♦ International Children’s Book Day 2019: Indian authors who introduced us to the world of storytelling
- It’s every parent’s dream to inculcate good reading habits in a child. Simply because books are the wisest of counsellors and play a huge part in shaping a child’s mindset at an early age. The wise words of George R R Martin sums up what most of us feel – “A mind needs books as a sword needs a whetstone, if it is to keep its edge.”
- And what better day for your child to brush up on reading than April 2, that is celebrated as International Children’s Book Day to commemorate the birth anniversary of Danish author Hans Christian Andersen, best remembered for his fairy tales The Little Mermaid and The Ugly Duckling.
- We have curated a list of books by Indian authors that both you and your child can enjoy. Revisit the magical world of fun and adventure!
♦ India retains Test Championship for third year in a row
- India retained the ICC Test Championship Mace and won the purse of $1 million for a third year running after a memorable season that saw them winning their maiden series in Australia.
- India finished at the top of the ICC Test team rankings on the cut-off date of April 1 while New Zealand have ensured second place, the world body said in a statement on Monday.
- “Retaining the ICC Test Championship Mace once again is something we are all really proud of. Our team has been doing well across formats but it gives us extra pleasure to come out on top of the Test rankings,” India captain Virat Kohli said reiterating his love for Test cricket.
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